ABC, Inc. of Jasper, Georgia suffered a casualty loss of $150,000 in March 2019. This loss was caused by heavy rains that completely flooded their factory. As a result of these rains, the President declared North Georgia (including Jasper) a disaster area on March 23, 2019. In what year can ABC, Inc. elect to deduct the casualty loss?

Question 8 options:

1)

2015 or 2016

2)

2018 or 2019

3)

2017 or 2018

4)

Only 2019